Pursuant to an Order of the Supreme
Court of Bermuda dated 12 October 2011, KPMG Advisory Limited were
appointed as Joint Provision Liquidators of The South Of England
Protection and Indemnity Association (Bermuda) Limited.
The applicant for the winding up order is believed to be made at
the request of the Bermuda Monetary Authority on the basis that,
amongst other things, there was uncertainty regarding the company's
ability to meet its financial obligations.
It is understood that SEPIA may take steps to challenge the
appointment of the liquidators, who's main role is to seek to
safeguard available funds and assets within the company. However,
whilst the court order remains valid, the company is not permitted
to write any new or renewal business.
Further information is awaited from the the joint
liquidators.
Hill Dickinson has a wealth of experience in dealing with the full
range of marine, trade and energy issues. If you have any
queries relating to the above, or any other legal matter, please do
not hesitate to contact
us for advice.
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